New year, new dollars

  • Published
  • By 1st Lt. Frederick Freeman
  • 17th Comptroller Squadron
GOODFELLOW AIR FORCE BASE, Texas --   Are you ready for the new year?  If you're spending money for the wing, the new fiscal year begins in October.  Before the new year begins, the wing must close its financial books for 2014. 

This requires a collaborative effort during July, August and September to secure the effective handling of financial resources to meet mission needs. 

Preparation and execution of a successful fiscal year closeout involves the whole base, centered on the 17th Training Wing's Comptroller, Contracting and Civil Engineer squadrons along with resource advisors in units across the wing.  The goal is for the wing to expend 100% of its funding by Sept. 30. Current cannot be used in the new fiscal year starting Oct. 1.

Much like a household budget, the wing has a set amount of money it can spend each year and must ensure operational needs required by each unit are met. 

The wing's budget is developed by a list of unit-level mission requirements.  These items are submitted to the 17th Comptroller Squadron to review the purpose, time and amount of the request.

The purpose of the request must meet a mission need with a valid justification provided.  Then the requirement must be purchased with dollars from the correct fiscal year. The cost of the request must be within the proper amount appropriated for the requirement. The comptroller squadron certifies the requirement once they validate that funds are available. 

Contracting works with the requesting unit to ensure they acquire the correct item and then coordinates with vendors to purchase the item. Many higher budget projects are construction efforts led by civil engineers.

These projects range from initial construction, building renovations/ or damage repair. Along with the standard operational needs, the wing develops a prioritized list of unfunded requirements, which act as a "dream sheet" of items the wing wants to purchase. 

The highest priority items often include quality of life and training requirements for Airmen, such as fitness center equipment or training enhancements.  At the end of the fiscal year, many of these items are funded by higher headquarters. 

Improper planning for the use of funds or failure to validate obligations can result in an inability to purchase or fund critical requirements while demonstrating poor stewardship of taxpayer dollars. 

As a rule of thumb, to ensure a successful purchase, customers should ensure purchase requests are submitted early, provide a valid justification for the purchase and acquire an accurate cost estimate of the item. 

This closeout process requires the support of all base activities and tenant organizations to realize wing priorities. With teamwork across the wing, the closeout of the fiscal year set up a successful beginning to fiscal year 2015.